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Deduction u/s 24

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SONIA DEVAL

SONIA DEVAL (Querist)
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29 June 2013 Pls Confirm me that Can a Private limited company take deduction U/s 24 of Stat. Deduction of 30% on rental income where Company get a rental income from commercial factory let out.

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Sonia Deval

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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29 June 2013 If the intention of the company is permanent and it is not a composite letting, then income can be offered under 'income from house property' and the statutory deduction u/s 24(a) can be claimed thereon.

CA.Vinita Gupta

CA.Vinita Gupta (Expert)
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29 June 2013 Yes it can take the benefit of Deduction 24 as well as Standard Deduction 30%

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